Digital Turbine (APPS) Receives $2.10 Average Target Price from Brokerages

Digital Turbine (NASDAQ:APPS) has received an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $2.10.

A number of research firms have recently commented on APPS. ValuEngine cut Digital Turbine from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Digital Turbine from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, B. Riley increased their price objective on Digital Turbine from $2.50 to $2.80 and gave the stock a “buy” rating in a research note on Thursday, February 8th.

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Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in Digital Turbine by 239.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 69,500 shares of the software maker’s stock worth $124,000 after purchasing an additional 49,049 shares in the last quarter. Lyon Street Capital LLC bought a new position in Digital Turbine in the fourth quarter worth approximately $306,000. Millennium Management LLC grew its stake in Digital Turbine by 178.3% in the fourth quarter. Millennium Management LLC now owns 311,196 shares of the software maker’s stock worth $557,000 after purchasing an additional 199,392 shares in the last quarter. Deutsche Bank AG grew its stake in Digital Turbine by 17.4% in the fourth quarter. Deutsche Bank AG now owns 447,591 shares of the software maker’s stock worth $801,000 after purchasing an additional 66,242 shares in the last quarter. Finally, EAM Investors LLC grew its stake in Digital Turbine by 49.7% in the fourth quarter. EAM Investors LLC now owns 461,156 shares of the software maker’s stock worth $825,000 after purchasing an additional 153,056 shares in the last quarter. 22.78% of the stock is currently owned by institutional investors.

APPS opened at $1.72 on Friday. Digital Turbine has a one year low of $0.94 and a one year high of $2.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.84 and a quick ratio of 0.84.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Wednesday, February 7th. The software maker reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $38.03 million for the quarter, compared to the consensus estimate of $31.09 million. Digital Turbine had a negative net margin of 18.66% and a negative return on equity of 22.65%. analysts forecast that Digital Turbine will post -0.08 earnings per share for the current fiscal year.

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Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, app advertisers, device original equipment manufacturers, and other third parties worldwide. It operates through two segments, Advertising and Content. The Advertising segment offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices; Discover software, which provides application installation and management, as well as detailed reporting to advertisers and carriers; and mobile user acquisition platform that allows mobile advertisers to engage with right customers for their applications.

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